Mercury General Stock Price, News & Analysis

Mercury Insurance (NYSE: MCY) has launched five new coverages and three discounts for homeowners in Arizona. The new coverages include options like Green Home that offers up to 10% additional funds for eco-friendly replacements, matching of undamaged siding and roofing, protection against hidden water damages, and coverage for up to $1,000 in spoiled food due to refrigerator issues. Discounts are available for homes with Green certifications, updated homes, and good payment history.

Mercury General Corporation (NYSE: MCY) reported a net income of $1,288 for Q3 2021, down 98.9% from $118,857 in Q3 2020. Net premiums earned rose by 4.6% to $940,941, while net premiums written increased by 7.6% to $1,014,967. However, net realized investment losses were $34,399, a drop from gains of $50,904 the previous year. Catastrophe losses were significantly higher year-to-date, totaling $91 million. The Board declared a quarterly dividend of $0.6350 per share, payable on December 30, 2021.

Mercury Insurance (NYSE: MCY) launches a promotional campaign for Anaheim Ducks fans, offering two free tickets for a home game when they complete an online auto or homeowners insurance quote. This promotion runs from October 18 to December 3, 2021. Mercury aims to attract new customers by showcasing potential savings in auto and home insurance. Additionally, the company will feature the 'My First Car' video series, engaging fans with players' personal stories. Mercury has been providing competitive insurance solutions in multiple states since 1962.

Mercury Insurance (NYSE: MCY) announces a promotional campaign called 'Get a Quote, Get Two Tickets' for LA Kings fans, running from October 18 to December 3. Fans completing an online auto or homeowners insurance quote will receive two free tickets to a Kings home game at STAPLES Center. Mercury aims to attract customers by highlighting their competitive insurance rates and providing incentives for quotes. Current policyholders are also eligible. The company emphasizes its history of saving Californians money on insurance since 1962.

Mercury Insurance has reported a 40% increase in comprehensive auto insurance claims due to rising vehicle vandalism and theft in California. The increase stems from the pandemic, with claims particularly rising for parts like catalytic converters. Northern California shows nearly double the claim frequency compared to the south. The top vehicles for claims include the Toyota Prius and Chevy Silverado. The National Insurance Crime Bureau indicates a 24% rise in auto theft since 2019, with almost 22% of claims occurring at night.

Mercury Insurance (NYSE: MCY) has been recognized by Forbes as one of America's Best Insurance Companies for 2022. The ranking is based on a survey of over 16,000 consumers from 4,200 U.S. insurers, evaluating factors like customer satisfaction and loyalty. Only 90 companies made the list. CEO Gabe Tirador expressed pride in this recognition, affirming their commitment to innovative products and superior customer service. Mercury offers various insurance products across multiple states and has consistently received high ratings from A.M. Best and Fitch.

Mercury General Corporation (NYSE: MCY) announced it will release its third-quarter earnings results on November 2, 2021, after market close. The findings will be detailed in an earnings press release and filed with the Securities and Exchange Commission as a Form 10-Q. Mercury primarily offers personal automobile and homeowners insurance through independent producers across several states. For more information, visit Mercury's website. The company cautioned that actual results may differ from forward-looking statements due to various risks and uncertainties.

Mercury Insurance has introduced the MercuryGO app in Arizona, aimed at enhancing driving skills and traffic safety. This usage-based insurance app allows policyholders to receive up to 10% off for participation, with potential discounts of up to 40% at renewal based on driving behavior scores. The initiative responds to rising traffic fatalities in Arizona, which reached 1,057 in 2020. Developed with Cambridge Mobile Telematics, MercuryGO targets issues like distracted driving, promising significant safety improvements.